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France
In shortCompagnie Generale Des Etablissements Michelin is profitable, generates cash and carries moderate debt, with revenue shrinking (−4.4% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 9.1% | 47/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 6.4% | 46/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 9.1% | 45/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 7.3% | 49/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.90× | 92/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.31× | 94/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 0.41× | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 14.7% | 79/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 2.29× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 3 of 5 | 0/100 |
| Revenue growth volatility | 11.8% | 67/100 |
| Operating margin volatility | 1.0% | 100/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -3.1% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | -5.8% | 0/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
EUR millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 23,795 | 28,590 | 28,343 | 27,193 | 25,992 |
| Cost of revenue | 16,810 | 21,052 | 20,395 | 19,445 | 18,973 |
| Gross profit | 6,985 | 7,538 | 7,948 | 7,748 | 7,019 |
| Research & development | 682 | 698 | 756 | 786 | 788 |
| Operating income | 2,777 | 3,021 | 2,652 | 2,631 | 2,366 |
| Pre-tax income | 2,471 | 2,656 | 2,490 | 2,445 | 2,258 |
| Income tax | 626 | 647 | 507 | 555 | 594 |
| Net income | 1,844 | 2,001 | 1,983 | 1,884 | 1,665 |
| Diluted EPS | €10.24 | €2.79 | €2.75 | €2.62 | €2.33 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Apr 3, 2026